Observer Money

Staff Writer The Third Financing Summit for Africa’s Infrastructure Development took place in Luanda this week, with African leaders calling for stronger action to close the continent’s infrastructure financing gap and unlock its potential as a global growth engine. In his opening remarks, Angolan President João Manuel Gonçalves Lourenço, who also chairs the African Union (AU), said Africa must invest between US$130 billion and US$170 billion annually to build the foundation for sustainable growth.  “We must move from words to action,” Lourenço urged. “This summit represents a decisive step toward mobilising the resources needed to enhance connectivity and integration across…

Chamwe Kaira Grindrod Logistics has opened a new warehouse facility at the Port of Walvis Bay to boost cargo handling and strengthen Namibia’s trade corridors.  The warehouse is located near berths 7 and 8 and is designed for efficient cargo movement via conveyor, rail, and road. The 4 000-square-metre weatherproof facility, built on Grindrod’s existing 50 000-square-metre premises, meets all safety, health, environment and quality (SHEQ) standards set by the Namibian Ports Authority (Namport).  The development marks a major collaboration between Grindrod and Namport to enhance port efficiency and position Walvis Bay as a reliable regional trade gateway. Frans Visser,…

Staff Writer  Letshego Holdings Namibia Limited (LHN) has appointed Willem Pretorius as its new chief financial officer, effective 27 October 2025, the company announced in a notice on the Namibian Stock Exchange (NSX). Pretorius, a Chartered Accountant (Namibia), has over 11 years of experience in the banking and financial services sector. He holds qualifications in accounting from Northwest University and the University of South Africa and completed his articles with Ernst & Young Namibia before qualifying as a CA in 2014. He has held several key roles at Letshego Bank Namibia, including acting CFO, head of treasury, and finance controller.…

Staff Writer  Mobile Telecommunications Limited (MTC) has expanded its service reach by opening three new Mobile Homes, marking the first for Divundu and the second for both Rundu and Katima Mulilo. The outlets are set to open to the public in the first week of November. MTC chief commercial officer Octivius Kahiya said the move forms part of the company’s expansion strategy to improve access to its services across the country. “Strategic to business, the decision to open these new mobile homes is to allow more citizens to have easy access to the crucial MTC services. The populace of Divundu…

Staff Writer  Bank Windhoek has retained its position as the market leader in vehicle financing for the fourth consecutive year.  The announcement was made by the bank’s chief financial officer, Zenaune Kamberipa, during the Bank Windhoek Vehicle and Asset Finance (VAF) Selekt Sales Awards. In the sales categories, JP Geldenhuys from Pupkewitz Toyota was named top salesperson of the year for new vehicles, with Stefan Botes from Gobabis Toyota taking silver.  Jhandre Nel and Genivo Mouton of Indongo Auto shared bronze. For used vehicles, Kobus Prins of Zeda Cars won gold, followed by Roux Jeffery of Pupkewitz Toyota with silver…

Staff Writer  On the outskirts of Addis Ababa, 30-year-old Behailu Seboka, founder of Askema Engineering, manufactures brake pads from discarded slaughterhouse materials.  What began as a university project now employs 268 people and serves 6 400 customers across Ethiopia. “With the right support, we can prove that the circular economy is not only good for the environment but also for business,” he said. Askema Engineering, an exhibitor at the 2025 Annual Meeting of the African Circular Economy Alliance (ACEA), shows how African innovation, supported by policy and investment, can become an industrial and export-ready asset.  Across the continent, companies like…

Chamwe Kaira  Andrada Mining Limited has announced that JLE Newco Ltd, a company registered in Lichfield, United Kingdom, has acquired a 5% shareholding in the company.  The acquisition follows an internal restructuring within the corporate group of the ultimate beneficial owner. According to a regulatory filing submitted to the UK Financial Conduct Authority, JLE Newco now holds 83.7 million voting rights, representing 5% of Andrada Mining’s total issued share capital.  The transaction crossed the reporting threshold on 14 October 2025, and the company was notified on the same day. The filing asserts that no other entity controls JLE Newco, nor…

Chamwe Kaira  Curro Holdings Limited has announced progress in the planned acquisition of all its issued shares by Jannie Mouton Stigting, which will lead to the company’s delisting from the Johannesburg Stock Exchange once the transaction is finalised. Curro released an update this week, confirming that they have met most of the suspensive conditions outlined in the circular to shareholders.  The company has secured all necessary regulatory and third-party approvals, with the exception of clearance from the competition authorities, to whom it made submissions in September. The company confirmed that approvals have been received from its debt funders, including Standard…

Staff Writer  FirstRand Limited has acquired a 20.1% stake in Channel VAS Investments Limited, trading as Optasia, one of the world’s largest artificial intelligence-driven fintech platforms serving emerging markets. The deal comes as Optasia prepares for its initial public offering and marks a strategic move by FirstRand to expand its reach in digital financial services and financial inclusion. Optasia operates in 38 countries across Africa, the Middle East, and Asia, providing financial access to millions of underbanked and unbanked consumers.  Using mobile data and AI, the company enables microloans and digital financial products at scale, allowing consumers to access credit…

Staff Writer  Standard Bank Namibia will host its first Governance, Risk and Compliance (GRC) Breakfast Connect on 31 October under the theme “Building Resilience: One Brick at a Time.”  The event will bring together industry leaders, risk professionals, and community stakeholders to discuss institutional resilience while raising funds for the bank’s Buy-a-Brick initiative, which supports low-income families in securing permanent housing. Paulina Iiyambo, senior manager for IT audit at Standard Bank Namibia, said the breakfast reflects the bank’s belief that governance, risk and compliance are strategic enablers of sustainable growth.  “To be truly effective, these disciplines must operate in concert,…